Japan adds dollars to the money market

Calcutta News.Net
Wednesday 24th September, 2008

Japan's central bank has made further efforts to calm financial turmoil in the country by injecting more funds into the banking system.

The government has also offered dollars to the money market for the first time in coordination with the US Federal Reserve.

The Bank of Japan injected 1.5 trillion yen into the Tokyo money market on Wednesday morning, to prevent liquidity shortages.

It was the sixth day the government had entered the market.

The Bank of Japan is trying to ensure credit flows do not dry up due to the collapse of US investment giant Lehman Brothers.

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